Whitehaven Coal Ltd. said May 24 that it has signed a deal to acquire the remaining 25% stake in the Winchester South coal development project in Queensland, Australia, after it agreed in March to pay US$200 million for acquisition of a 75% interest in the project from Rio Tinto.
The acquisition price will be consistent with the previous deal and the company expected to complete both transactions in the second half and to start project development afterward.
The remaining 25% stake is currently held by Australian investment trust Scentre Group, according to S&P Global Market Intelligence data.
